Andy Wise discusses the Securities and Exchange Commission’s controversial new whistleblower rules, adopted in May. Although the rules incorporate language that excludes outside auditors from participating in the program, there are loopholes that auditors could use to bring complaints against clients to the SEC. Wise says the exceptions for auditors are broad and have plenty of room for interpretation. "This puts auditors in a very tenable position," he says. Companies need to establish clear lines for reporting concerns and act on them expeditiously to reduce the risk that the SEC will get involved with an issue before it can be addressed internally. "This is going to put companies on the clock," he continued.